AEW Currently Operating In The Red Due To Video Game Investment
Tony Khan expects the company to have a profitable 2021, though
A Forbes feature on All Elite Wrestling President Tony Khan has revealed the promotion is currently operating in the red.
Forbes noted AEW received $43.75 million from TNT in 2020, which made up the largest share of the promotion's revenue. Tony Khan expects AEW to be profitable in 2021, but an eight-figure investment in developing their current slate of video games has kept the company in the red for the time being.
AEW announced a console game and two mobile games were in development back in November 2020. AEW Casino: Double Or Nothing has since been released. AEW: Elite GM remains in development at Crystallized Games and YUKE's are continuing to work away at the AEW console game.
The $43.75 million from TNT in 2020 comes from the $175 million TV deal AEW signed with WarnerMedia back in January 2020. At least $10 million has since been added to that amount through the upcoming launch of AEW: Rampage in August 2021.
Tony Khan also commented on the formation of AEW during the Forbes feature, saying: "I don't want to be the next 'blank' wrestling company of the past. We love wrestling of the past, wrestling of the present and wrestling of the future... That's what gives us a great chance to retain and gain audience share."